🔴 S is trading 11.6% down today on conservative guidance and 8% workforce reduction

S is trading 11.6% down at $15.93 as conservative full-year guidance and a restructuring plan offset a quarterly earnings beat.

• The company maintained its 20% full-year revenue growth guidance despite reporting 21% growth and accelerating ARR to $1.163 billion.
• Management announced an 8% workforce reduction, fueling investor concerns regarding growth durability and retention despite positive operating margins.